Nebras Energy (QEWS) Q1 2026 earnings summary

Executive summary

• Achieved strong operational and financial performance in Q1 2026, with revenue up to QAR 725 million and net profit rising to QAR 297.0 million, despite regional geopolitical challenges.

• Plants operated continuously with no interruptions; ongoing monitoring of regional risks and disciplined growth strategy.

• Construction commenced on major CCGT power projects in Oman, expanding capacity by 2.6 GW at Misfah and Duqm.

• Total comprehensive income declined to QAR 229.4 million due to negative fair value changes in equity investments.

• Interim financials received an unqualified review conclusion from independent auditors.

Financial highlights

• Q1 2026 revenue reached QAR 725 million, up 6% year-over-year, with net profit attributable to equity holders at QAR 295 million, a 3% increase.

• EBITDA for Q1 2026 was QAR 450 million, a 2% increase from Q1 2025.

• Gross profit rose to QAR 220 million, a 5% increase, with net profit margin at 41%.

• Earnings per share improved to QAR 0.27 from QAR 0.26 year-over-year.

• Higher dividend income from AFS investments and lower interest expense contributed positively.

Outlook and guidance

• Facility E and Peaker projects in Qatar are on track, with COD for Peaker in early 2027 and Facility E in 2029 (early power in 2028).

• Ongoing capacity expansion in Oman with 2.6 GW at Misfah and Duqm; continued focus on diversified international portfolio.

• Management continues to monitor geopolitical risks in the Middle East, noting ongoing uncertainty and potential future financial impacts.